Universal Technical Institute
A chain of about 35 trade schools that turns school leavers into car mechanics, welders, dental assistants and nurses in about a year, mostly paid for with federal student loans.
The scores
Growth3/4 ↓
Revenue up 14% in fiscal 2025 and 7% now on more students, but about as fast as certificate enrolment nationally, and Concorde was bought.
Business quality2/4 →
Recruiting reach holds a price far above public colleges, but federal aid carries that price, no share is gained and public rivals add places.
Financial position3/4 ↓
About $10M net cash and a revolver to 2031, but cash flow no longer covers capital spending and the gap is borrowed.
Execution record2/4 ↓
Beat fiscal 2024 and 2025 guidance, but cut fiscal 2026 guidance unflagged, weeks after insiders sold.
Per share capture3/4 →
Share count flat since the preferred converted in 2023 and stock pay about 1.4% of revenue; no buybacks, and lenders fund the build.
Potential2/4 →
The 2029 target is expected, not committed: it needs starts to recover, new campuses to fill and federal rules to hold.
Risk profile3/4 ↓
One dependency, federal student aid at 78% of cash revenue, under one regulator; the new earnings test bites from 2028.
Valuation3/4 ↑
At about 11 times this year's reported profit the price pays for about half of management's 2029 plan, not all of it.
Evidence quality3/4 →
Filings, Clearinghouse counts and BLS are solid; the miss's cause and the 2029 plan rest on management's words.
The Verdict
We rate Universal Technical Institute neutral. It trains mechanics, welders and healthcare workers, and federal student aid pays most of its tuition. The business is mixed: students keep coming, but public colleges teach similar courses for a fraction of the price, and in August it missed its high-school recruiting goal and cut this year's profit forecast. After a 60% fall, the price is fair: about 11 times this year's cash profit, which counts on only about half of management's plan to 2029, so the rest is extra. The view hinges on November's forecast for next year showing the miss was one quarter's problem.
The long caseMore young people are choosing quick trade and healthcare training over college; UTI gains only if it keeps winning them at eight times the public price.
The evidence under this - 7 claims
The company's own footnote warns individual institutions' ratios vary from the averages, so one campus group may sit nearer 90% than the mean shows.
- Operating leases on most campuses are left out; the vendor, counting them, puts enterprise value near $1.37B and the multiple at 13.1.
- Reported adjusted EBITDA is after about $35M of growth spending this year; on management's baseline the multiple is far lower (C15).
- The six-year median includes fiscal 2020-2022, when UTI had about $300M-$420M of revenue and thin profit, so a normal multiple for today's company may be higher.
- Peers trade near 12.5 times in the filed cohort, which would make the same price pay for less.
Published tuition is an average across all programs; technical programs often charge fees on top, and a UTI program finishes in about a year where an associate degree takes two.
- Lincoln Tech's start growth slowed to 1% in the same summer as fewer enrolled students turned up, a conversion problem at a peer that recruiter numbers at UTI do not explain.
- UTI division leads were up over 15% and still did not convert, which fits weaker intent as well as too few recruiters.
The company
UTI sells a fast route into a skilled job. A school leaver or veteran spends about a year in a campus workshop learning to fix cars and trucks, weld, or install heating systems; Concorde does the same for dental assistants, medical assistants and nurses, with time in real clinics.
Auto and diesel is 63% of the UTI division's sales. A student could go to a community college instead, which charges about $4,150 a year but takes longer, or learn on the job.
The evidence under this - 5 claims
Published tuition is an average across all programs; technical programs often charge fees on top, and a UTI program finishes in about a year where an associate degree takes two.
The accreditor's employment rate excludes graduates unavailable for work, and the company's own footnote says individual programs vary widely from the averages.
How it makes money
Tuition is almost all of it: about $35,100 a year per UTI student and about $30,000 at Concorde. Federal loans, grants and veterans' benefits pay about 78% of what it collects, so the government is the real payer. Each new student pays over a year or two, which makes this year's sign-ups next year's sales.
The evidence under this - 3 claims
The company's own footnote warns individual institutions' ratios vary from the averages, so one campus group may sit nearer 90% than the mean shows.
Where the money comes from, stream by stream
| Stream | Share of sales (FY2025) | How it earns it |
|---|---|---|
| Auto and diesel technician programs | 40.9% | Campus programs of about a year training car, truck and diesel mechanics, the UTI division's core. |
| Other transportation, welding and skilled trades | 19.6% | Motorcycle, marine, collision, aviation, welding, HVAC, wind, electrical and robotics programs, mostly shorter and cheaper. |
| Industry training for employers | 3.9% | Manufacturer-specific training and instructor services sold to carmakers and other employers. |
| Dental programs | 9.1% | Concorde's dental assistant and dental hygiene programs, the hygiene program its most expensive. |
| Medical assisting | 7.7% | Short Concorde programs training medical assistants for clinics and physicians' offices. |
| Other allied health, diagnostics and nursing | 18.5% | Respiratory, surgical, sonography, practical and registered nursing and related Concorde programs. |
Who runs it
Jerome Grant has run UTI since November 2019 and roughly tripled its sales, partly by buying Concorde. He sold 94,500 shares in June, weeks before the forecast cut; the chairman bought after the fall. The directors' biggest holder, Coliseum Capital, has sold most of its stake. Most long-term pay rides on sales and cash profit, none on cash left over or profit per share.
The evidence under this - 3 claims
Why it wins, and who could beat it
Why customers come back
UTI's edge is reach. A national team of recruiters, school visits and online marketing brings in about 30,000 new students a year, and ties with carmakers let it promise a route to a job. That lets it charge $35,100 a year against a public college's $4,150 and still grow.
The weakness is that certificate courses everywhere are growing about as fast as UTI, so it is riding a wave rather than taking students from rivals.
The evidence under this - 4 claims
Published tuition is an average across all programs; technical programs often charge fees on top, and a UTI program finishes in about a year where an associate degree takes two.
Community-college freshmen grew only 0.5% in fall 2025 after three strong years, the first sign the inflow is slowing.
The threat
Public colleges are the real rival. Texas State Technical College opened a $35M state-funded centre near Houston in December 2025 to train 400 to 500 more students in the same trades. Lincoln Tech is opening campuses in UTI's markets, and listed nursing schools compete with Concorde.
The evidence under this - 4 claims
Published tuition is an average across all programs; technical programs often charge fees on top, and a UTI program finishes in about a year where an associate degree takes two.
The rivals: LINC, LGCY, APEI, and 2 more that are private, in-house or listed abroad.
Who else does this, rival by rival
| Ticker | Rival | Where it competes | How far along | Priced against it |
|---|---|---|---|---|
| Not listed | Community colleges and state technical colleges, such as Texas State Technical CollegePriced against it: Not listed | UTI division (transportation, energy and skilled trades) | On sale | Not listed |
| LINC | Lincoln Educational Services (Lincoln Tech)Priced against it: Yes | UTI division (transportation, energy and skilled trades) | On sale | Yes |
| LGCY · APEI | Legacy Education and American Public Education's nursing schools, with community colleges' health programsPriced against it: Yes | Concorde (healthcare) | On sale | Yes |
| In-house | Dealer and employer apprenticeships and in-house trainingPriced against it: In-house | UTI division (transportation, energy and skilled trades) | On sale | In-house |
How big it could get
How big this could get
Community colleges alone had 752,000 students on certificate courses in fall 2025, up 28% since 2021. At public tuition that is about $3.1B a year. UTI has about 3% of that number of students but earns about a quarter of that money, because it charges far more per student.
The evidence under this - 3 claims
Community-college freshmen grew only 0.5% in fall 2025 after three strong years, the first sign the inflow is slowing.
Published tuition is an average across all programs; technical programs often charge fees on top, and a UTI program finishes in about a year where an associate degree takes two.
The results
The numbers
Sales grew 9.1% over the twelve months to Jun 2026, about the same pace as the 14% in the year to Sep 2025.
Operating margin is 5.0%, about where it was (3.5%) in the year to Sep 2023.
Yearly sales growth has ranged from +11% to +45% over the last 5 years.
Each dollar put into the business earns 7.6% a year after tax, about where it was (7.2%) in the year to Sep 2021.
It used $22.9M of cash over the last twelve months, so the $170M it holds lasts about 7.4 years at that pace.
It holds $170M of cash against $160M of debt, $10.1M more cash than it owes.
The share count rose 69% in 4.8 years, and pay in shares costs 1.4% of sales.
All the numbers
Filed figures from the company's 10-K and 10-Q, read 2026-10-10. Fiscal years end in September.
| Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | 12 mo to Jun 2026 | |
|---|---|---|---|---|---|---|
| Size and growth | ||||||
| Sales | $335M | $419M | $607M | $733M | $836M | $884M |
| Sales growth | +11% | +25% | +45% | +21% | +14% | +9.1% |
| Profit | ||||||
| Operating margin | 4.5% | 5.3% | 3.5% | 8.0% | 10.0% | 5.0% |
| Net margin | 4.4% | 6.2% | 2.0% | 5.7% | 7.5% | 3.9% |
| What growth costs, per sales dollar | ||||||
| Selling, general and admin | 46% | 45% | 42% | 39% | 40% | 43% |
| Pay in shares | 0.5% | 1.0% | 0.6% | 1.2% | 1.1% | 1.4% |
| Capital spending | 18% | 19% | 9.3% | 3.3% | 5.0% | 11% |
| Cash | ||||||
| Cash from operations | $55.2M | $46.0M | $49.1M | $85.9M | $97.3M | $74.5M |
| Free cash flow | −$6.12M | −$33.4M | −$7.54M | $61.6M | $55.4M | −$22.9M |
| Balance sheet | ||||||
| Cash and short-term investments | $134M | $66.5M | $152M | $162M | $169M | $170M |
| Debt | $30.7M | $67.5M | $162M | $126M | $87.1M | $160M |
| Net cash | $103M | −$1.09M | −$10.6M | $36.2M | $82.0M | $10.1M |
| Returns and shares | ||||||
| Return on capital | 7.2% | 8.9% | 4.3% | 11% | 16% | 7.6% |
| Shares (diluted) | 33.1M | 33.7M | 34.5M | 50.9M | 55.6M | 55.9M |
What growth costs
Until 2025 growth made UTI more profitable, because overheads grew slower than sales. This year that reversed: new campuses and courses cost money before they fill, and the plan keeps building at that pace, so margins are lower until those campuses mature.
The evidence under this - 2 claims
Fiscal 2025 capital spending was $42.0M, so the step-up is new and untested against cash flow.
The last report (5 Aug)
Quarter ended June 2026, filed figures.
The quarter to June 2026 looked fine on top: sales up 7.2% and new students up 10.9%. Underneath, operating profit fell to $3.2M from $14.2M as new campuses and courses cost money before earning any.
The real news was the outlook. UTI said too few high-school leavers had enrolled for autumn auto and diesel courses and cut this year's forecast. Management blamed too few recruiters and a shift toward shorter, cheaper trade courses.
What it did to the thesisIt weakened the case: the miss arrived unannounced, weeks after insiders sold, and the cash the plan depends on shrank. It left open whether the cause is fixable recruiting or weaker demand, which next year's forecast should show. That keeps the view neutral rather than positive.
The quarter in detail
Sales growth from the previous quarter, filed figures.
Earnings per share $0.04 against $0.02 expected; $0.04 as filed, with no adjustments.
The evidence under this - 4 claims
- Lincoln Tech's start growth slowed to 1% in the same summer as fewer enrolled students turned up, a conversion problem at a peer that recruiter numbers at UTI do not explain.
- UTI division leads were up over 15% and still did not convert, which fits weaker intent as well as too few recruiters.
What management did with the money
Insiders in 2026Q3: 6 purchases and 0 sales, from their Form 4 filings.
The price, and where we disagree
In short. Fair. The price pays for about half of management's 2029 plan, so it is no longer demanding, but it still assumes the new campuses start paying.
The shares fell 34% the day after the August report and have kept falling, to about 60% below July's high, while sales per share rose. Short sellers, who profit from a fall, have added to their bets.
The test comes on 18 November, when UTI reports its year and gives its first forecast for the next one. Even the cut forecast needs a better fourth quarter than last year's.
The evidence under this - 4 claims
Growth spending is front-loaded, $27.6M of about $35M in nine months, so a stronger Q4 margin is plausible arithmetic, not a sign of trouble.
How we read the multiple
Counting its debt and cash, a buyer pays about 11 times the cash profit UTI expects this year, before interest, tax and wear on its buildings. In past years the market paid about 7 times.
- At 7 times, today's price needs about $161M of yearly cash profit.
- This year UTI expects about $101.5M.
- Management's 2029 target is about $220M.
- So the price assumes UTI gets about half the way there.
Against its own history. Buyers pay more than UTI's own normal, but that normal was set when it was a much smaller, barely profitable company.
The evidence under this - 4 claims
- Operating leases on most campuses are left out; the vendor, counting them, puts enterprise value near $1.37B and the multiple at 13.1.
- Reported adjusted EBITDA is after about $35M of growth spending this year; on management's baseline the multiple is far lower (C15).
- The six-year median includes fiscal 2020-2022, when UTI had about $300M-$420M of revenue and thin profit, so a normal multiple for today's company may be higher.
- Peers trade near 12.5 times in the filed cohort, which would make the same price pay for less.
Baseline adds back the costs of opening campuses and programs, which recur every year the build-out continues; capital spending is guided at $100M or more a year.
- The same management guided fiscal 2026 reported adjusted EBITDA to $114M-$119M nine months before cutting it to $100M-$103M.
- The only analyst estimate reaching fiscal 2029 puts revenue at about $1,187M, below the $1.2B target.
Priced against its rivals
The competitors its own annual report names, each confirmed against the rival's filing. Measured on company value for each $1 of cash profit, cheapest first:
| Ticker | Company | company value for each $1 of cash profit |
|---|---|---|
| LGCY | Legacy Education | 9.8× |
| UTI | Universal Technical Institute | 13.6× |
| LINC | Lincoln Educational Services | 15.1× |
The middle of the other 2 is 12.4. Universal Technical Institute, Inc. is 2nd cheapest of 3.
Rivals' figures come from a data provider, so read the spread of the group rather than any single pair.
It sits between its two closest rivals on this measure, so the price is in line with the group rather than special to UTI.
Private or foreign rivals that cannot be priced: Community colleges and state technical colleges.
Where we disagree with the market
The August miss means the growth plan is breaking.
The miss looks like one quarter's recruits, so the price is no longer demanding; but UTI's edge over cheap public colleges is thin.
The fall priced in the insiders' sales and the cut. The filings still show sales growing and slightly more cash than debt.
Against us: interest in UTI rose over 15% and still did not turn into students, and Lincoln Tech saw the same slowdown, which points to weaker demand rather than too few recruiters.
What analysts say, and the evidence
The evidence under this - 5 claims
- Lincoln Tech's start growth slowed to 1% in the same summer as fewer enrolled students turned up, a conversion problem at a peer that recruiter numbers at UTI do not explain.
- UTI division leads were up over 15% and still did not convert, which fits weaker intent as well as too few recruiters.
Published tuition is an average across all programs; technical programs often charge fees on top, and a UTI program finishes in about a year where an associate degree takes two.
What could go wrong, and how we would know
The risks
- Cheaper public colleges. States are funding new trade centres that charge a fraction of UTI's tuition, and a student may decide the slower, cheaper route is good enough.
- A new earnings test. From 2028 a course whose graduates earn too little can lose federal loans; UTI depends on federal aid for about 78% of what it collects.
- Borrowing to build. Cash from running the schools no longer covers the cost of new campuses, so the gap is borrowed and each campus must fill as planned.
- Demand, not recruiters. If fewer school leavers want auto and diesel courses, adding recruiters will not bring the students back.
- Trust in the forecast. The forecast was cut without warning weeks after insiders sold, so management's 2029 plan carries less weight.
The evidence under this - 7 claims
Published tuition is an average across all programs; technical programs often charge fees on top, and a UTI program finishes in about a year where an associate degree takes two.
The Department's projection covers all certificates, including cosmetology and massage that dominate the failures; UTI's 10-Q reports no change to its risk factors.
The company's own footnote warns individual institutions' ratios vary from the averages, so one campus group may sit nearer 90% than the mean shows.
- Lincoln Tech's start growth slowed to 1% in the same summer as fewer enrolled students turned up, a conversion problem at a peer that recruiter numbers at UTI do not explain.
- UTI division leads were up over 15% and still did not convert, which fits weaker intent as well as too few recruiters.
What we still do not know
- Which UTI and Concorde courses would pass the government's new earnings test; the department's own data could not be reached.
- Whether the autumn shortfall was too few recruiters, as management says, or fewer students wanting the courses.
- How much room the new bank loan's limits leave if profit falls further.
The evidence under this - 3 claims
The Department's projection covers all certificates, including cosmetology and massage that dominate the failures; UTI's 10-Q reports no change to its risk factors.
- Lincoln Tech's start growth slowed to 1% in the same summer as fewer enrolled students turned up, a conversion problem at a peer that recruiter numbers at UTI do not explain.
- UTI division leads were up over 15% and still did not convert, which fits weaker intent as well as too few recruiters.
What would change our view
- Neutral→AttractiveA cheaper price on unchanged execution
It needs all of:
- ○The price falls to 8 times last year's cash profit, counting debt and cash.about ≈$14.11 today, 32% below the last close
- ○This year's cash profit comes in at $100M or more, the bottom of UTI's cut forecast.checked at the next results, due by 18 Nov
- Neutral→AttractiveThe miss proves one quarter's problem
It needs all of:
- ○UTI forecasts next year's cash profit at $120M or more.checked at the next results, due by 18 Nov
- ○New students in the UTI division grow on a year earlier in the first quarter of fiscal 2027.checked at the next results, due by 18 Nov
- Neutral→UnattractiveThe plan or the funding breaks
It needs any of:
- ○UTI forecasts next year's cash profit below $100M.checked at the next results, due by 18 Nov
- ○The government cuts federal loans to a UTI course that brings in more than 5% of sales.watched as it happens
We would also be wrong if
- New students in the UTI division fall on a year earlier in two quarters running.
- Cash from running the schools fails to cover campus spending in fiscal 2028.
What is coming
- 18 November 2026 Fiscal 2026 fourth-quarter results and fiscal 2027 guidance: Whether the high-school shortfall stayed in one quarter, and how much profit growth management guides for fiscal 2027.
Every dated event ahead
- 18 November 2026 Fiscal 2026 fourth-quarter results and fiscal 2027 guidance: Whether the high-school shortfall stayed in one quarter, and how much profit growth management guides for fiscal 2027.
- 15 February 2027 First-quarter fiscal 2027 results: Whether UTI division starts grow again with the extra recruiters, and whether Concorde's starts recover.
- 15 June 2027 Clearinghouse spring 2027 enrolment count: Whether certificate enrolment is still growing near 10%, the trend UTI rides.
Since we wrote this
- 10 OctThesis writtenNeutral, medium convictionWritten five weeks before fiscal 2026 results, after the August guidance cut took a third off the shares and insiders' June sales came to light.
Sources 22
Sources - 22
Every claim above cites one of these, or states the reasoning that derived it. The quote is frozen at the date it was read: a link can rot, and an agent fetch returns a reading of a page rather than the page. Backs counts the whole claim ledger, so it can name a claim this page does not surface.
- S01primarycompany filing2025-11-26Item 1 business, programs, tuition ranges and revenue per student, competition, the Title IV and veterans' share of cash revenue, 90/10, segment results, the income and cash flow statements and the risk factorsbacksC01C02C03C04C20C21C22C35
- S02primarycompany release2025-11-19fiscal 2025 adjusted EBITDA of $126.5M, the original fiscal 2026 guidance with a baseline above $150M and about $40M of growth investments, and the fiscal 2029 targetsbacksC03C08C14C34C36
- S03primarycompany filing2026-08-06segment revenue and operating income, the balance sheet, the debt note, liquidity, nine-month cash flow, the share count and the legal proceedingsbacksC06C14C17C19C37
- S04primarycompany release2026-08-05Q3 revenue, starts and adjusted EBITDA by segment, the nine-month adjusted EBITDA reconciliation, and the revised fiscal 2026 guidancebacksC06C07C08C09C14C15C16C32C34
- S05primarycompany release2026-08-05each division's fiscal 2025 revenue, margins, program mix, campus count, 90/10 ratio, graduation and employment rates, and the new-campus economicsbacksC01C02C05C27C31
- S06primarytranscript2026-08-05UTI third-quarter fiscal 2026 earnings call transcript (FMP), held 2026-08-05management's account of the miss (field reps short of need, the shift to shorter skilled-trades programs), the fiscal 2027 colour, capital spending and campus ramps; questions from Barrington, Northland, Rosenblatt and other analysts
That $20 million delta 70%, roughly, Steven, is directly related to the auto diesel high school starts miss for all the reasons Jerome just outlined. About 30% is the mix piece.
backsC09C10C15C31C32 - S07primarycompany filing2026-08-18the $200M senior secured revolver led by Fifth Third, maturing August 2031, the $75M uncommitted incremental and the leverage and coverage covenantsbacksC18
- S08primarycompany filing2026-06-10Schedule 13D/A filed by Coliseum Capital Management on UTI, 2026-06-10 Coliseum Capital ManagementColiseum's sale of 3,000,000 shares and its remaining 971,440 shares, 1.76%, with a lock-up to the Q3 results
the Reporting Persons agreed not to sell any shares of Common Stock until after the Issuer publicly announces its earnings results for the fiscal quarter ending June 30, 2026
backsC11 - S09primarycompany filing2026-10-10every open-market sale and purchase with the Rule 10b5-1 flag: 14 sales, none under a plan, and the chairman's purchases after the fallbacksC11
- S10primarycompany filing2026-01-20executive officers, beneficial ownership, the bonus and performance-stock design and fiscal 2025 payoutsbacksC28C35
- S11secondaryvendor data2026-10-10Research pack, frozen 2026-10-10 (FMP market data, FINRA short interest)the close of $20.64 on 2026-10-09, daily closes, the 52-week range, the price-move decomposition, the analyst split and estimates, short interest, the vendor's EV/EBITDA history and the filed cohortbacksC12C13C14C16C29C30C36
- S12primarycompany filing2026-03-04the rival's campus openings in UTI's markets, including Houston and Rowlett, Texas, and its skilled-trades mix
We opened a new campus in Houston, Texas in August 2025, and have signed leases for new campuses in Hicksville
backsC21 - S13primarycompany release2026-08-10the peer's own start slowdown in the same summer
However, our start growth for the quarter slowed to one percent, as fewer enrolled students than expected attended the first day of class.
read, but no claim rests on it - S14primarygovernment data2026-09-14the median wage of $50,620 in May 2025, openings of about 66,200 a year and 5% growth from 2025 to 2035
The median annual wage for automotive service technicians and mechanics was $50,620 in May 2025. ... About 66,200 openings for automotive service technicians and mechanics are projected each year, on average, over the decade.
backsC24 - S15primaryindustry data2025-10-28the average published tuition and fees at a public two-year college in 2025-26
Public two-year in-district: $4,150, $110 higher than in 2024-25 (2.7% before adjusting for inflation).
backsC22 - S16primaryindustry data2026-06-04National Student Clearinghouse Research Center, Final Spring Enrollment Trends 2026 National Student Clearinghousenational undergraduate certificate enrolment growth in spring 2026
At the undergraduate level, enrollment increased across certificate, associate, and bachelor’s programs, with undergraduate certificate programs continuing to post the fastest growth (+10.2%).
backsC25 - S17primaryindustry data2026-01-15National Student Clearinghouse Research Center, Final Fall Enrollment Trends (fall 2025) National Student Clearinghousecertificate enrolment at community colleges and its growth since 2021
After four years of consecutive growth, there are now 752,000 enrollments in undergraduate certificate programs at community colleges, a total increase of 28.3 percent from fall 2021.
backsC25 - S18secondaryother2026-07-10TICAS, 'The Department of Education's Final Earnings Metric Rule', 2026-07-10 The Institute for College Access & Successthe Education Department's final rule of 2026-07-01: the earnings-premium test, the loss of Direct Loans after two failing years in three, and the Department's own projection of who fails
programs enrolling 31 percent of undergraduate certificate students are projected to fail the earnings premium test, compared with programs enrolling four percent of associate degree students and less than one percent of bachelor’s degree students.
backsC26 - S19secondarynews2025-12-03Community Impact, 'Texas State Technical College opens $35M transportation technology center in Rosenberg' Community Impacta state-funded public college adding 400 to 500 transportation-technology students in the Houston area, where UTI runs a campus
Texas State Technical College's Fort Bend County campus has opened a new state-of-the-art facility, representing a more than $35 million investment from the state ... expected to enable TSTC to admit an additional 400 to 500 students, representing a 71% increase in enrollment.
backsC23 - S20primarycompany filing2026-10-10Content financials card, content/UTI/financials.json (the filer's XBRL facts)content/UTI/financials.jsonsix years of filed revenue, operating income, SG&A, stock pay, operating cash flow, capital spending and diluted shares, and the trailing twelve months to June 2026backsC13C17C20C33
- S21primarycompany filing2026-09-15a rival running campus healthcare career schools, Concorde's product
We provide career-focused, post-secondary education services to students at all stages of adult life, from recent high school graduates to working parents, through our accredited academic institutions: High Desert Medical College
backsC38 - S22primarycompany filing2026-03-02a rival's pre-licensure nursing schools, Rasmussen $246.2M of 2025 revenue, competing with Concorde's nursing programs
We are a national leader in pre-licensure nursing education, focused on a Diploma in Practical Nursing, or PN diploma, and an Associate Degree in Nursing, or ADN, through Rasmussen University and Hondros College of Nursing
backsC38